Colorado Gov. Jared Polis is proposing a year of “belt-tightening” to make up for softening inflation and higher Medicaid costs.
Colorado Gov. Jared Polis points to a graphic representation of a projected budget shortfall during his budget presentation for the upcoming year at a news conference in his office in the Colorado State Capitol in Denver on Friday, Nov. 1, 2024. for the upcoming fiscal year on Friday afternoon. It doesn’t account for Tuesday’s elections, which include some potentially costly.
“While I appreciate the governor’s commitment to avoiding the budget stabilization factor, there is still much more work to be done to address Colorado’s education needs fully,” Pugliese said in a statement. “Unfortunately, the school finance reforms we have pushed for will not take effect soon enough. Colorado families can’t wait seven years for an updated formula to roll out — our students deserve real support now.
Polis also wants to spin off Pinnacol Assurance, the state’s workers compensation insurer, into a private-sector business. The agency now is a quasi-independent part of state government.Candidates across the ballot are talking about the cost of housing. But will the issue sway votes? Polis described the proposal as shoring up short-term budgetary needs through long-term and sustainable reforms. His proposal would not touch the state’s 15% reserve fund of more than $2 billion.
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